WASHINGTON: Dr. Ernest Addison, the Governor of the Bank of Ghana, has called for amplified support from the International Monetary Fund (IMF) and the World Bank Group (WBG) to bolster Africa's fiscal policies. Speaking at the 2024 Africa Caucus Meeting with IMF's Managing Director Kristalina Georgieva during the IMF/WBG Annual Meetings, Dr. Addison emphasized the need for resilient fiscal strategies, debt restructuring, and increased concessional financing. According to Ghana News Agency, Dr. Addison highlighted the continent's ongoing struggle with debt vulnerabilities, weak domestic revenue mobilization, and limited access to international capital markets. The African Development Bank (AfDB) estimates that Africa requires up to $170 billion annually for infrastructure, with a financing gap of $108 billion. The rising ratio of interest payments to revenue has further strained investment in essential services, leaving nearly half of the countries at high risk or in debt distress by the end of 2023. Dr. Add ison asserted that overcoming these challenges necessitates a multifaceted approach, combining domestic reforms with robust international support. He urged the IMF to resume charging interest rates on Poverty Reduction and Growth Trust (PRGT) funds, emphasizing the importance of maintaining high concessionality while exploring financing options like gold sales. The Central Bank Governor advocated for IMF and World Bank programs to consider regional specificities, ensuring sustainable reforms that protect vulnerable populations. He also stressed the importance of regional technical assistance to address the root causes of fiscal challenges, suggesting a stronger partnership between the IMF and the Africa Peer Review Mechanism. Dr. Addison recommended that the Global Sovereign Debt Roundtable focus on timely and fair debt resolution, particularly for the most vulnerable countries. He noted that African governments are working to improve public financial management and strengthen governance to foster durable e conomic growth. In addition to the African Caucus Meeting, the Central Bank of Ghana collaborated with the organizers of DC Fintech Week 2024 to enhance global cooperation with Ghana and Africa. Dr. Maxwell Opoku-Afari, the first Deputy Governor of the Bank of Ghana, led discussions at the event, which aimed to leverage financial technology for sustainable development. The meeting drew senior policymakers, regulators, and private sector representatives from the US fintech community to explore mutual interests.